The Ukrainian region of Crimea could adopt the Russian ruble as its currency and "nationalize" state property as part of plans to join the Russian Federation, a regional official was quoted as saying on Thursday.

Interfax news agency cited Rustam Temurgaliyev, Crimea's vice premier, as saying: "All Ukrainian state enterprises will be nationalized and become the property of the Crimean autonomy."

Hoping Moscow would let Crimea become part of Russia, he said: "We are ready to introduce the ruble zone."

Of course, this may lead to the emergence of an even more broad 'black market' for dollars or rubles in Ukraine as we are sure the Ukraine government would fight back with capital controls of some sort.

The ruble is already a piece of shit. I'm wondering if switching from one piece of shit currency to another will truly be beneficial. I'm sure that the deputy minister or whatever the fuck his name is will have his pockets lined with Rubles. Unfortunately for him, he may take a nap and wake up with them being 30% devalued when he wakes up. C'est la vie in the third mundo.

Russian gulag or EU.... We Eastern Europeans tried both. Sorry. EU, with all its faults, infinitelly better choice. And we actually TRIED both, not like some wankers writing from their parents basement. That includes Mr. Durden as well...

russia was in the end reluctant to give any leeway into its semiautonomous control of eastern central germany

the americans were not as some might think, running the show in germany-- large swathes of territory were quarantined off from american encroachment

that is why Stalin, Churchill, and Truman met in Potsdam, Germany because Stalin demanded it...

this explains how the Russian's were to get the bulk of Nazi scientist, and they did. the USA got its share but Russia really got moar than their share. remember the sputnik (10/4/57?) long before JFK's space race to the moon five years later in 1962!

lastly, Russia has a 1:1 nuclear warhead ratio with the USSA...

if one side says 'go ahead make my day', not even the oligarch can hide...

Just imagine what the others in Eastern and to some degree Western Ukraine will be thinking. Do I hold on to the Hvernia that will lose value as the economy collapses, energy prices skyrocket, or Ukraine bonds default----or would I be better off siding with Russia with a stronger currency tied to commerce and jobs connected with Russia. Me thinks Putin has this figured out while Nuland is preaching democracy, freedom and hope which resonates with the young who do not understand the realities of geopolitics. Really interesting how this unfolds after referendum. Putin may sway most important areas of Ukraine without firing a shot.

Just what I was thinking. Ukraine's economy is, best case, going to be yoked to the IMF/World Bank/EU bankster extraction program. Everyone of value will be liquidated and sent West. Taxes will skyrocket and any benefits, and pay, will be slashed. At best, Ukraine goes through a decade of being bled white. The Hryvnia will show the strain. Or they'll ditch the Hryvnia and use the Euro, which is still worse for those in a depressed country (see Portugal, Greece, Italy, Spain).

If, on the other hand, they go to the Ruble, they know the Ruble will be "punished" by the Western economies. But the stuff they want to buy, they want to buy from Russia. Russia can maintain a false internal economy for as long as it takes Europe to remember they need some energy from somewhere.

I'd go for the Ruble ten times out of ten in their situation. And I'd have a nice big garden, some hand tools, a full freezer, and a rough recollection of where exactly on the lake I so unfortunately tipped over my canoe that one fated day...

The West won't let the Ukraine fail. It's as simple as that. No default coming. The same with the Euro. The currency is not working as intended, but I can't see it being dropped anytime soon. The factors influencng these largely economic issues are often emotional or irrational. The Euro is seen and sold as the "great peace project" etc. This will be an economic cold war with Russia. A previous cold war the Russians lost and will probably lose again. Russia may have the largest land-mass, immense resources and a massive army, but economically they really are very second rate. This poor rating is mainly derived from a very one sided commodity economy, terribly corrupt and kleptocratic and an ancient, failing infrastructure.

The Ruble has been cratering for a while and so has their stock exchange, as anybody invested in Russia (as I) will confirm. Crimea latching on to the Ruble won't save their arses. The Crimea hanging on to Russia will become economically isolated and stay backward. Tourism in Crimea will be isolated to the Russian market only. Exports will probably suffer sanctions. It's a lose/lose all around, but mostly for the Crimeans. God forbid we in the EU have another quasi bankrupt country to feed through, but it probably is heading that way. Ukraine will shift clearly towards the west, ex-satellites will distraust Russia even more and the political divide will clearly shift eastwards, with the exception of the Belarus puppet.

Fonestar wake up. You are failing at your duties of promoting Bitcoin. You and I know the differences in fiat and crypto. You should have been writing Vlad letters and explaining to him how powerful Bitcoin cane make a nation compared to the failures of fiat.